If they earn $1m a month, that's 12m a year. That's 120m cap and .12 PPS at 10 p/e
They are probably close to this now (looking backwards) when you account for the heavy R&D spending.
Looking forward as we should be doing... however.
So when we discuss earnings and revenue think that every million they add to earnings equals roughly 12 cents per shares of stock at a 10 P/e
We can argue p/e but 10s a fair number especially considering low debt and assets. And also the massive tax benefits they will enjoy for a while.
It's also why the discussions about market share and competition is silly when you are playing in markets of 9 zeros and $12m in earnings is a rounding error in the market size.
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